Miles Electric Vehicles, a California-based electric car automaker, filed for Chapter 11 bankruptcy protection early Tuesday.
Miles Electric Vehicles, founded in 2004 by entrepreneur Miles Rubin, listed estimated assets in the range of $10 million to $50 million, and estimated liabilities of between $50 million and $100 million.
Miles Electric Vehicles was one of the first U.S. companies to import small, battery-powered electric cars from China.
It has focused mainly on low-speed vehicles – electric cars limited to speeds of 25 miles per hour. The automaker has four low-speed EVs: ZX40, ZX40S, ZX40S Advanced Design and ZX40ST electric truck.
All electric vehicles were available in the US and used by various organizations such as NASA, several universities and others.
